LAW OF THE REPUBLIC OF ARMENIA

of December 28, 2012 No. ZR-240

About modification and amendments in the Law of the Republic of Armenia "About the value added tax"

Accepted by National Assembly of the Republic of Armenia on December 19, 2012

Article 1. "About the value added tax" (further – the Law) to state article 2 of the Law of the Republic of Armenia to ZR-118 of May 14, 1997 in the following edition:

"Article 2. It agrees established by this Law procedure, VATes pay the persons who are considered as payers of the VAT and (or) incurring obligations on payment of the VAT.".

Article 2. To state article 3 of the Law in the following edition:

"Article 3. The payer of the VAT is considered registered as performing business activity or the having right to conduct business activity the legal entity, the branch of the foreign organization registered in the Republic of Armenia or the individual entrepreneur.

1) since January 1 of this calendar year until the end of this calendar year if as of January 1 of this year person, according to the law, cannot be considered as taxpayer from turnover, except for the uncommercial organizations having the right to implementation of business activity and producers of agricultural products which are considered as payers of the VAT in case and procedure, stipulated in Item 2 these Articles,

2) from the moment of exceeding of threshold of the VAT of turnover of realization of the delivered goods and the provided services (the performed works) for calendar year as regards all types of activity until the end of calendar year. In case of exceeding of threshold of the VAT within calendar year, the VAT it is paid from the amount exceeding threshold.

3) since that moment of calendar year until the end of this calendar year from which person, according to the law, ceases to be considered as taxpayer from turnover,

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